Food and Services Industry - Market Research Report

  Sports Equipment Industry Overview The global sports equipment market size was valued at USD 331.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. Continuous innovations and rapid technological advancements to keep pace with dynamic consumer preferences are driving the growth of the market. The increasing awareness about the benefits of a healthy lifestyle and the importance of sports and fitness activities, is further stimulating the demand for such equipment. The Covid-19 pandemic has adversely affected several industries including the athletic and fitness industry. Many tournaments and game events, including the Olympics, have either been postponed or their format has been altered. As a result, stakeholders in the market are trying to assess the downstream impact arising from disrupted cash flows, insecurities, and the potential declines in long-term attendance and engagement. The growing popularity of national and...

  Halal Food And Beverage Industry Overview The global halal food and beverage market size was valued at USD 774.93 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030. The increasing Muslim population worldwide and growing concern regarding food safety, hygiene, and reliability will drive the market in the forecast period. According to an article published in Pew Research Centre, April 2019, there are 1.8 billion Muslims globally. With an increase in the demand, manufacturers have widened their product portfolio by introducing several value-added halal food items, including pasta, vegetable, juice, milk, yogurt, and cheese. Further, the production of halal-certified foods by key players in the market will increase product visibility among consumers. The disruption of the food supply chain owing to the rapid spread of COVID-19 affected the food and beverage market including the halal food industry. Leading manufacturers worldw...

  Diabetic Food Industry Overview The global diabetic food market size was valued at USD 12.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. Growing diabetes among people has prompted the overall demand for diabetic food. According to the Centers for Disease Control and Prevention report titled “The National Diabetes Statistics Report” published in January 2022, approximately 37.3 million American, which is about 1 in 10 have been diagnosed with diabetes in the year 2021. Such factors are likely to favor the overall market growth. The COVID-19 pandemic has affected the overall food and beverage industry. Healthy individuals, as well as people with acute chronic diseases or symptoms, are being requested to stay at home according to the World Health Organization (WHO).  With the onset of the pandemic, people became health conscious and decreased sugar intake in order to stay healthy and fit as sugar is majorly assoc...

  Ready to Drink Tea and Coffee Industry Overview The global ready to drink tea and coffee market size was valued at USD 98.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. Rising demand for energy drinks that have a taste familiar to coffee and tea is one of the primary factors driving market expansion. Additionally, the growing prevalence of lifestyle diseases is pushing consumers toward ready-to-drink tea and coffee since these contain antioxidants and other beneficial ingredients. Positioning RTD tea and coffee as recreational products has succeeded in boosting their consumption among millennials. The COVID-19 outbreak has positively impacted the growth of the overall food & beverage industry, including products such as RTD tea and coffee. At the World Tea Summit held in October 2020, Peter F. Goggi, President of the Tea of Association of the U.S., said that the pandemic has enhanced tea co...

Savory Snacks Industry Overview The global savory snacks market size was valued at USD 250.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. With consumer demand for more experimental healthy snacking experiences, food manufacturers are aiming to appeal to the new "curious consumer" by launching healthier savory snack options. Rising urbanization and hectic lifestyles are impacting the eating habits of consumers who are progressively substituting more flexible, light, and convenient snacking options for main meals. The COVID-19 pandemic restrictions prompted a couple of emerging trends in the market. With people stuck at home started to snack a lot more and key players such as PepsiCo, Mondelēz International witnessed an increase in sales in the snacks category. According to Harris Poll 2021, 9 in 10 Europeans claimed that they are snacking as much or more than before, partially due to the rise of remote working ac...

  Meat Substitute Industry Overview The global meat substitute market size was valued at USD 9.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 42.1% from 2022 to 2030. Intensive animal husbandry has been criticized by some sections of society because of its negative effects on the environment and animal welfare. This has led to the emergence of diets that exclude or limit the use of animal products. This is expected to facilitate the growth of the market for meat substitutes. The outbreak of the COVID-19 pandemic has drastically impacted the consumption pattern of traditional meat due to rising health consciousness among consumers. The fear of an increasing number of animal-borne diseases has raised health concerns among consumers, which has resulted in decreased intake of animal products. Consumer awareness of plant-based meat substitutes is rapidly growing, with more people demanding these because of their stated health benefits, such as t...

  Ready Meals Industry Overview The global ready meals market size was valued at USD 143.86 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030. Ready meals are cost-effective alternative dishes that take less time to prepare as they are precooked and are available throughout the year. The shifting food preferences of consumers toward ready-to-eat food products owing to the busy lifestyles of working individuals as well as the hectic work schedules of college students is likely to fuel market growth. Since the outbreak of coronavirus (COVID-19) in 2020, nearly all the countries around the world proposed country-level lockdowns, resulting in restricted movements and shutting down of public places, including restaurants and other eateries. During this time, consumers began buying and stocking up on packaged meals owing to their higher shelf life and convenience in cooking. This habit that developed because of the pandemic is l...